Big oil bets big on LNG, shrugging off peak gas predictions

Oil majors are betting big on liquified natural gas (LNG), throwing down the gauntlet to predictions of peak gas by the end of the decade. Britain's Shell , a leading player in the global LNG market, has identified the super-cooled commodity as a primary focus amid the energy transition. France's TotalEnergies said it expects LNG volumes managed by the company to grow by 50% between 2023 and 2030, while BP , which recently doubled down on fossil fuels as part of a green strategy U-turn , has significant LNG investments. Stateside, Exxon Mobil is seeking to double its LNG portfolio by 2030, Chevron has been expanding existing LNG projects and developing new facilities, while Baker Hughes recently said it would buy Chart Industries for $13.6 billion as part of a move to increase its LNG expo